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Tuesday, 9 October 2012

Samsung reports record profits after Galaxy success

Samsung has announced profits of £4.5 billion for its smartphone business in the three months to September - thanks largely to the success of the Galaxy S3
Samsung Galaxy SIII LTE

The South Korean company posted operating profits of 8.1 trillion won (about £4.5 billion or $7.3 billion) and saw its share price jump 1.5% following the announcement.
Success can be traced directly to the Samsung Galaxy S3 handset that launched back in May and racked up 200 million sales in under 100 days. Then there's the popularity of Samsung's phone/tablet hybrid, the Samsung Galaxy Note - another strong performer.
The results are mired slightly by the ongoing legal tussles Samsung continues to fight with Apple. In August, a US court ruled in favour of Apple over a patent infringement claim and Samsung was ordered to pay more than $1m in damages.
Sammy has responded by calling for a retrial and the tech world is braced for another high-profile scrap as the two companies continue to draw lines in the sand.
For the moment though, Samsung's mobile phone division can acknowledge a quarterly profit nearly double last year's amount and a handset currently riding high as the Android phone of choice. Not a bad place to be.



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